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Category Archives: New Canadian Mortgage Rule

Park Towers Condominiums at IQ

Park Towers Condominiums at IQ    

                                      Exclusive Project To My Clients Only

If you’re looking to reside in Toronto without the steep price tag, this project will answer your housing prayers. The new 24-storey development on the Queensway is a more affordable alternative, and is only a short drive away from Toronto’s downtown core.

The Park Towers Condominiums at IQ will include an east and west tower, both standing 24-storeys tall. The east tower will be home to 228 suites, and the west will hold 230. Once the project is complete, the master-planned community will feature seven towers and 1,200 residential units.

But there’s more to the new development than its affordability. The units are also spacious and boast tons of high-end features, like double-glazed windows to up energy efficiency.

If you don’t cook often now, prepare to soon. The kitchen will draw you in with its quartz breakfast bar, stainless steel major appliances and a ceramic backsplash. Other suite features are equally impressive. The bathroom, for instance, combines cultured marble countertops with elegant white accents.

The next phase of the highly successful IQ Condominiums, Park Towers – a masterpiece, park inspired community envisioned by the finest architects, designers, landscape architects and urban thinkers in the city. Intelligent living in Toronto in a master-planned community built around a lush green park and just steps to the TTC, IQ Condominium Residences are The Remington Group’s new luxury-green development at Islington and Queensway. Cleverly priced from the high $100’s.

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The Hub Condos

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Live Life on Tomorrow’s Fast Lane. Make the Switch. With its uptown edge, this new residential development by award-winning Empire Communities will play a key role in this Eg-West area’s entire renewal. With condo suites, new neighbourhood-friendly shops, services, and the Eglinton Crosstown LRT right at your front door, where else would you rather be? First in can take advantage of the good-value combination of a yet-to-be-discovered neighbourhood. Get connected to The Hub.

Price list and Floor Plans Available Upon Request!

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The Hub Condos located at the corner of Eglinton and Oakwood, 1603 Eglinton is currently the site of a single-storey commercial building. Empire Communities is planning build a 16-storey condominium with some retail space integrated into the ground floor.

Starting from the low $200’s

Important Message: In order for an investor to take the most advantage of Buying Pre-construction Condos is to buy before its open to the public. Prior to opening day of a new condo sales office to the general public, prices may have gone up. This will be an opportunity for you to invest in a unit at the lowest price possible before its open to the public. You can be one of the first purchasers to be invited to Platinum VIP Preview Sales Event long before the presentation centre opens to the public. This gives you an opportunity to have the first access to inventory, best pick at unit levels, floor plans, lowest price not available to the public and the ability to take advantage of Platinum VIP Condo Incentives the builder may offer.  This is a perfect opportunity at the Platinum VIP Price.

For more information and to register now for The Hub Condos Platinum VIP Preview Sales Event please fill out the form below, we can only bring limited customers into the Platinum VIP Sales Event, so pre-register now for priority access:

 

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155 Redpath Condos

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A tower in a park. Sleek, chic and sexy. A hot new vision in design at Redpath and Roehampton, an interpretation of exciting urbanism in the Yonge and Eglinton neighbourhood.

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155 Redpath Condos will be an extraordinary landmark residence. 36 stories punctuated with large, offset balconies and vivid brush strokes of colour. Modernism in the truest sense of the word, a bookmark in the story that is today’s Toronto.

155 Redpath Condos is at the intersection of this vitality. With a Walk Score of 98/100 and a Transit Convenience Score of 94/100 it is about as close to perfection that any place can be.

At 155 Redpath Condos the Eglinton Subway Station and Yonge Eglinton Centre is a short walk away, as are the myriad of shops, restaurants, bars, cafes and other delights on Yonge, Eglinton and Mount Pleasant. With everything so close, why leave?

Within the next 5 to 10 years, the urban scene at Yonge and Eglinton will transition from fantastic to unbelievably amazing. In the future, you’ll be able to zip out to Pearson on the LRT Transit system. Imagine, from front door to runway in just 25 minutes. The Yonge Eglinton Centre is undergoing a multi-million dollar reno with more shops and a roof-top park.

On the South-West corner of Yonge and Eglinton another multi-million dollar project is proposed for a totally brilliant new development, and just a block or two away from 155 Redpath Condos, Loblaws is planning a 40,000 sq. ft. store. And, hold onto your hats, that’s just for starters.

Features + Finishes

The Building

  • Architectural design by award-winning architect Peter Clewes of architectsAlliance
  • Unique interiors by Johnson Chou Inc.
  • 24/7 concierge
  • Security coded access fob for all residents
  • Underground parking with security monitoring from concierge desk
  • Sustainable rainwater harvesting system used for irrigation
  • Mailroom conveniently located beside the front lobby
  • Individual suite hydro metering

Amenities

  • 9th floor outdoor amenity deck featuring pool and hot tub, outdoor shower, private poolside cabana lounge, sunbathing area, gas fire pit lounge, BBQ, and outdoor dining area 9th floor indoor amenity space complete with pool table, kitchenette area, meeting lounge, indoor washrooms with change area and relaxing sauna
  • Fitness centre complete with cardio, free weight, and outdoor fitness area
  • Separate dedicated indoor/outdoor yoga studio
  • Beautifully landscaped grounds designed for relaxation and outdoor activities; featuring a reflecting pool complete with fountain and fire feature, viewing gardens and lounge areas
  • Party room featuring a kitchen, bar, dining room, lounge area, and outdoor landscaped terrace
  • Library and meeting areas that overlook landscaped grounds

Suites

  • Tower suites have approximately 9’ ceilings (height exclusive of bulkheads, which are required for mechanical purposes such as heating and cooling ducts, as well as dropped ceilings in bathrooms)
  • Floor-to-ceiling, high-performance glazing/window system
  • Exposed concrete ceilings in all principal rooms
  • Choice of pre-finished engineered wood flooring with acoustic underlay throughout (except in bathroom and laundry areas), as per plan, from builder’s samples
  • Nest™ thermostat heating and cooling system with touch control and Wi-Fi capability
  • Contemporary sliding doors to balcony, as per plan
  • Concrete balconies with architect designed glass, and metal handrails
  • Custom-designed solid core entry door with security view-hole
  • Lever door hardware for interior doors in stainless steel finish
  • TV/telephone outlets in principal rooms
  • Front-loading stacked washer/dryer with exterior venting, as per plan
  • Choice of porcelain floor tiles in laundry as per plan, from builder’s samples
  • Built-in smoke/heat detectors and in-suite water sprinkler system
  • In-suite controlled energy-efficient air-conditioning and energy recovery ventilation system

Kitchens

  • Custom designed contemporary kitchen cabinetry by Johnson Chou, in a variety of colours and finishes, from builder’s samples
  • European style integrated refrigerator
  • European style electric cook top
  • European style wall oven
  • 24” integrated dishwasher
  • Stainless steel insert exhaust fan
  • Solid surface countertops as per builder’s samples
  • Stainless laminate kitchen backsplash as per builder’s samples
  • Stainless steel under-mount single bowl sink
  • Polished chrome single lever kitchen faucet
  • Ceiling-mounted track lights as per plan

Bathrooms

  • Custom designed contemporary bathroom vanity designed by Johnson Chou, in a variety of colours and materials, from builder’s samples
  • Glass shower stall with chrome fixtures, as per plan
  • Vessel sink and extended vanity mirror
  • Polished chrome wall-mounted single lever bathroom faucet
  • Solid surface countertops as per builder’s samples
  • Choice of full height porcelain wall tiles in tub and shower enclosures, from builder’s samples
  • Choice of porcelain tile flooring from builder’s samples
  • Pressure-balanced mixing valve for tub and shower
  • White bathroom fixtures
  • Towel bar and toilet paper holder as per plan

Technology + Security

  • Enterphone and security monitoring system at lobby and secondary entrance
  • Underground parking equipped with security monitoring system
  • Personal remote transmitter for parking garage door access provided with each parking space
  • Controlled door access throughout public/common areas
  • Long-life service panel with circuit breakers in each suite
  • Pre-wired multi-media technology with RG6 for cable and television
  • Pre-wired telephone and high speed communication Category 5 wiring in every suite

All suites protected under TARION Warranty Corporation. All interior floors, wall finishes and materials for which the Purchaser is entitled to make a selection are to be chosen from Builder’s standard samples, and as per Builder’s specifications. E. + O.E.

INCENTIVES PROGRAM

  • $2,000 Credit on closing for 1BR and 1BR+Den, $3,000 credit on closing for 2BR
  • Extended Deposit Structure:
  • $5,000 upon signing
  • Balance to 5% in 30 days
  • 5% in 90 days
  • 5% in 300 days
  • 5% in 480 days
  • $0 on occupancy
  • Assignment fee $500
  • Development Charges capped at $5,500 for 1BR & 1BR+DEN, 2BR units CAPPED AT $7,500
  • Smart Meters capped at $875
*Terms and condition apply and are subject to change without prior notice. E & O.E. April 23rd 2013.

*Penthouse Suites are available by appointment only. Suite sizes start from 1082 Sq Ft.

Prices are subject to change without prior notice. E. & O.E. April 23, 2013,Last Updating May 04, 2013

Price List and Floor Plans  are available upon request.

Important Message: In order for an investor to take the most advantage of Buying Pre-construction Condos is to buy before its open to the public. Prior to opening day of a new condo sales office to the general public, prices may have gone up. This will be an opportunity for you to invest in a unit at the lowest price possible before its open to the public. You can be one of the first purchasers to be invited to Platinum VIP Preview Sales Event long before the presentation centre opens to the public. This gives you an opportunity to have the first access to inventory, best pick at unit levels, floor plans, lowest price not available to the public and the ability to take advantage of Platinum VIP Condo Incentives the builder may offer.  This is a perfect opportunity at the Platinum VIP Price.

For more information and to register now for the 155 Redpath Condos Platinum VIP Preview Sales Event please fill out the form below, we can only bring limited customers into the Platinum VIP Sales Event, so pre-register now for priority access:

 

 

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Gramercy Park Condos Phase I, II

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A Private Oasis

Amidst the steel and concrete of New York is a beautiful private oasis called Gramercy Park Condos. A tranquil green space designed and built for the exclusive enjoyment of a privileged few.

Inspired by that one-of-a-kind experience, Toronto now has its own Gramercy Park Condos, an exquisite condominium residence designed around an immaculately landscaped private park.

A beautiful space where body, mind and spirit can commune with gorgeous nature. A garden of Eden, where residents can escape the strident demands of a bustling metropolis and enjoy a moment of peace and serenity.

Welcome to Gramercy Park Condos. Your private oasis in the city.

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Though tucked away in a serene setting. Gramercy Park Condos is just a short walk from the Wilson subway station. From here, residents are conveniently connected to every part of Toronto. An evening date in the theatre district? Just hop on the subway and you’re there within minutes. Shopping at an east end mall? Let “The Better Way” take you there with ease and comfort. Apart from the subway, you have numerous bus routes, highway 401 and a GO Transit bus stop-all within ten minutes of home. At Gramercy Park, you’re well connected with everything the city has to offer.

Features & Finishes

Suite Features

  • The suite entry door is solid core with elegant lever hardware and privacy viewer
  • The suite’s interior doors are semi-solid with the same elegant lever hardware
  • Door casings are wood, with 4” baseboards
  • Interior walls are painted off-white
  • Lavish, 35 oz carpeting adorns bedrooms and dens
  • Laundry area floor is graced with lovely ceramic tile
  • 8’ ceilings in principal rooms on typical floors
  • Spacious 9’ ceilings in principal rooms in ground floor suites in both buildings, along with 9th floor suites in the east building, plus the 10th, 11th and 12th floors in the west building

Foyer Features

  • Ceramic tile flooring*
  • Mirrored sliding closet doors**
  • Quality ceiling fixture

Kitchen Features

  • Stylish custom cabinets*
  • Elegant granite countertop and ceramic backsplash
  • Ceramic tile flooring*
  • Double stainless steel sink** with a single lever chrome faucet
  • Choice of exquisite black or white appliances, including 18 cu. ft. refrigerator, electric range with self-cleaning oven, multi-cycle dishwasher, and over-the-range microwave oven with fan. Plus, white full-size stacked washer/dryer.
  • Three-head track halogen lighting

Bathroom Features

  • Plenty of storage in custom bathroom vanity with full-width lower storage drawer*
  • Lovely laminate counter top* with drop-in sink and chrome sink faucet
  • Vanity mirror with elegant light fixture
  • Ceramic tile flooring with full-height ceramic surroundings for shower and tub*
  • Chrome framed glass shower door in the shower stall**
  • Pressure-balanced chrome tub and shower valve
  • White fixtures

Mechanical, Electrical & Wiring Features

  • Individual season-controlled heating and cooling system
  • Individual remote suite hydro meter
  • Elegant light fixture in the hall and walk-in closet**
  • Dining room features a capped switched ceiling outlet
  • Switched wall outlet in living room, den and bedrooms
  • White Decora-style light switches and receptacles
  • Suites are conveniently pre-wired for TV outlets in the living room, bedrooms and den (where applicable)
  • Also conveniently pre-wired for telephone outlets in the kitchen, living room, bedrooms and den (where applicable)
  • The entire building is pre-wired for high-speed Internet access
  • Hardwired smoke and heat detectors are included in every suite

Building Amenities – The Gramercy Club

  • A beautiful, 2-storey glass-enclosed building filled with incredible conveniences and luxuries
  • 24-hour concierge to cater to your needs
  • Well-equipped fitness room and yoga room
  • Indoor oasis with pool and whirlpool, overlooking an outdoor sun terrace
  • Men’s and women’s change rooms feature steam rooms, showers and lockers
  • Entertain in a well-equipped party room with catering kitchen
  • Enjoy a lovely meal in the private dining room
  • Be entertained in complete comfort in the theatre
  • Enjoy your leisure time in a fantastic games room
  • Pamper your pets in the pet spa
  • Pamper your guests in the two guest suites
  • The community features a live-in superintendent
*Choice from Vendor’s standard samples
**As per plan Vendor shall have the right to substitute other products and materials for those listed provided that the substituted materials are of a quality equal to or better than the products and materials listed

BONUS WITH PURCHASE

Saffron: 1 parking space, $10,000 cash back AND $5,000 in upgrades

Marigold: 1 parking space, $5,000 cash back OR $8,000 in upgrades

Penthouses: 2 parking spaces and $25,000 in upgrades

Suite Features

Pre-engineered wood veneer flooring throughout (except in kitchen, bathrooms and laundry closet). Electric fireplace with wood surround in living room/dining room, as per plan. Kitchen to include choice of stainless steel, black or white appliances and glass, smooth top self-cleaning range. Pantry or pantry shelving, as per plan and granite countertop with under mount sink. Laundry room to feature full size, side by side washer and dryer. Master ensuite features marble countertop with under mount sink and chrome sink faucet. Powder Room or Main Bathroom (if no powder room) to feature marble countertop with under mount sink and chrome sink faucets.

Multi-media Technology

Pre-wired for cable TV outlets in living room, bedroom and den. Pre-wired for telephone outlets in kitchen, living room, bedrooms and den. Building pre-wired for high-speed internet access. Hardwired smoke and heat detectors in every suite.

The Gramercy Club

2-story glass-enclosed amenity building. 24-hour concierge. Equipped Fitness room and Yoga room. Indoor pool and whirlpool opening onto an outdoor sun terrace. Men and Women’s change rooms with showers and lockers. Party room with catering kitchen. Private dining room. Theatre. Games room. Pet spa. Two Guest suites. Superintendent suite. Private, extensive, landscaped park.

*All prices, figures and materials are preliminary and are subject to change without notice E &O.E. Note: All areas and stated room dimensions are approximate. Floor area measured in accordance with Tarion Bulletin #22. Actual living area will vary from floor area stated. May 19, 2012.
 

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129 St Clair Condos

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Grounded in history and superb design at Avenue Road and St. Clair

129 St. Clair Condos is a new condo project by Diamondcorp located at St. Clair Avenue West at Avenue Road, Proposed high rise residential condominium with street related townhouse units.

129 St. Clair Condos located in a prestigious community, the former Deer Park United Church will be creatively re-used and incorporated into this elegant building design.

Important Message: In order for an investor to take the most advantage of Buying Pre-construction Condos is to buy before its open to the public. Prior to opening day of a new condo sales office to the general public, prices may have gone up. This will be an opportunity for you to invest in a unit at the lowest price possible before its open to the public. You can be one of the first purchasers to be invited to Platinum VIP Preview Sales Event long before the presentation centre opens to the public. This gives you an opportunity to have the first access to inventory, best pick at unit levels, floor plans, lowest price not available to the public and the ability to take advantage of Platinum VIP Condo Incentives the builder may offer.  This is a perfect opportunity at the Platinum VIP Price.

For more information and to register now for this project Condos Platinum VIP Preview Sales Event please Register, we can only bring limited customers into the Platinum VIP Sales Event, so pre-register now for priority access:

 

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Credit unions identify new B20 perils

The  national trade association of credit unions is offering  fresh criticism of OSFI lending guidelines, suggesting the rules unfairly limit mortgage access for  immigrants, low-income, rural and Aboriginal Canadians.

“By codifying a set of underwriting expectations, the guideline could also be construed as a step towards standardizing mortgage contracts,” the Credit Union Central of Canada said in its assessment of OSFI’s B-20 guidelines. It’s “something that could harm the system’s ability to provide mortgages to the ‘non-conforming’ borrowers … i.e., low-income individuals, immigrants, rural Canadians (where incomes tend to be more volatile), Aboriginal people, or simply members the credit union knows well but for whom income documentation is hard to come by, including ‘asset-rich, income poor’ individuals.”

Earlier this year, OSFI said it would compel federally regulated lenders to implement a series of lending changes by their fiscal year-end (October 31 for most banks). Among those changes were the reduction of HELOC loan-to-value from 80 per cent to 65 per cent and the elimination of 100 per cent financing.

In recent months, brokers and borrowers have flocked to credit unions viewing them as a sort of a safe haven from the storm of B-20.

OSFI cannot impose the guidelines on provincially regulated credit unions, the CUCC said, but the guidelines can apply to lenders owned by federally regulated companies.

 
Comments Off on Credit unions identify new B20 perils

Posted by on November 9, 2012 in Bil B20, New Canadian Mortgage Rule, New Canadian Mortgage Rules, New Construction, New Development, RBC, Residential, TD

 

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GTA REALTORS® RELEASE MONTHLY RESALE HOUSING FIGURES

TORONTO, November 3, 2012 – Greater Toronto Area REALTORS® reported 6,896 transactions through the TorontoMLS system in October 2012 – a decrease of 7.1 per cent compared to October 2011. There were two more business days in October 2012 versus October 2011. On a per business day basis, transactions were down by 15.6 per cent.*

“Sales have decreased in the second half of this year compared to 2011, especially since the onset of stricter mortgage lending guidelines at the beginning of July. The prospect of higher monthly mortgage payments due to the reduced maximum amortization period has prompted some households to delay their home purchase,” said Toronto Real Estate Board (TREB) President Ann Hannah.

The average selling price for October transactions was $503,479 – up 6.2 per cent compared to October 2011. The MLS® Home Price Index composite benchmark price, which allows for an apples-to-apples comparison in terms of home attributes, was up by 5.1 per cent.

“We continue to see price increases well above the rate of inflation. Active listings have remained low from a historic perspective, so substantial competition between buyers still exists, especially for low-rise homes,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

“It should be noted, however, that the annual rate of price increase has been edging lower over the past few months as the market has gradually become better supplied,” continued Mercer.

*NOTE: The majority of transactions are entered into the TorontoMLS system on business days. There was a mismatch of two business days in September and October of 2012 compared to the same months last year. This is why sales on a per business day basis were noted in releases dealing with these months. The business day anomaly between the two months has now balanced out Summary of TorontoMLS Sales and Average Price – October 1 – 31
2012 2011
       Sales  Average Price New Listings Sales Average Price New Listings
City of Toronto (“416”) 2,730 $539,188 5,568 3,044 $518,248 5,166
Rest of GTA (“905”) 4,166 $480,078 7,486 4,381 $443,664 7,140
GTA 6,896 $503,479 13,054 7,425 $474,241 12,306
TorontoMLS Sales & Average Price By Home Type – October 1 – 31, 2012
Sales Average Price
416 905 Total 416 905 Total
Detached 931 2,417 3,348 779,484 573,598 630,850
Yr./Yr. % Change -7% -1% -3% 5% 8% 7%
Semi-Detached 347 458 805 575,618 390,459 470,273
Yr./Yr. % Change -4% -9% -7% 7% 5% 6%
Townhouse 286 775 1,061 453,477 357,237 383,179
Yr./Yr. % Change -10% -1% -3% 2% 5% 3%
Condo Apartment 1,141 427 1,568 358,741 286,138 338,969
Yr./Yr. % Change 14% 20% -16% -2% 4% 0%
 

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